| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29972 |
| 来源ID | Working Paper 29972 |
| An Evaluation of the Paycheck Protection Program Using Administrative Payroll Microdata | |
| David Autor; David Cho; Leland D. Crane; Mita Goldar; Byron Lutz; Joshua K. Montes; William B. Peterman; David D. Ratner; Daniel Villar Vallenas; Ahu Yildirmaz | |
| 发表日期 | 2022-04-25 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | The Paycheck Protection Program (PPP), a principal element of the fiscal stimulus enacted by Congress during the COVID-19 pandemic, aimed to assist small businesses to maintain employment and wages during the crisis. We use high-frequency administrative payroll data from ADP--one of the world’s largest payroll processing firms--to estimate the causal effect of the PPP on the evolution of employment at PPP-eligible firms relative to PPP-ineligible firms, where eligibility is determined by industry-specific firm-size cutoffs. We estimate that the PPP boosted employment at eligible firms by between 2 percent to 5 percent at its peak in mid-2020, with this effect waning to 0 to 3 percent throughout the remainder of the year. Employers retained an estimated additional 3.6 million jobs due to the PPP as of mid-May 2020, and 1.4 million jobs at the end of 2020. The implied cost per year of employment retained was $169,000 to $258,000, equal to 3.4 to 5.2 times median earnings. |
| 主题 | Macroeconomics ; Consumption and Investment ; Public Economics ; Taxation ; Labor Economics ; Labor Compensation ; COVID-19 |
| URL | https://www.nber.org/papers/w29972 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587646 |
| 推荐引用方式 GB/T 7714 | David Autor,David Cho,Leland D. Crane,et al. An Evaluation of the Paycheck Protection Program Using Administrative Payroll Microdata. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29972.pdf（756KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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